In this scheme of Post Office, no matter how much you can open, tax exemption can also be opened
If you do not want to take risk in investment, then you should turn to a savings scheme where your money is ensured and good returns can also be found. A savings scheme of the post office is the National Savings Certificate i.e. NSC, which is a great investment means in fulfilling this aspiration and purpose. 5-year Post Office Saving Scheme- No matter how much wishes can be opened under the National Savings Certificate (VIII points) and there is no limit for maximum investment. Not only this, the Jamarashi is also eligible for deduction under Section 80C of the Income Tax Act. Come, let’s know in detail about this scheme.
Who can open NSC account
According to the official website of Indian Posts, an adult person can open. In addition, three adults can open a joint account. Not only this, parents can also open an account under the post office National Savings Certificate Scheme on behalf of a minor or mentally unhealthy person. A minor over 10 years of age can also open an account in his name.
How much money can invest to invest
You will like to know that investment can be started from just Rs 1000 in the post office National Savings Certificate Scheme. Apart from this, in the multiple of 100, you can invest as much as you want. One thing to note, in this scheme, the amount deposited in this scheme is matured.
How much interest is getting on the investment amount
India Post NSC account is currently getting 7.7 percent returns. Let me tell you, because the National Savings Certificate Scheme is the savings scheme of the Government of India, due to this the amount invested in it is completely safe. The government reviews interest rates on all small savings schemes on a quarterly basis and also amends it from time to time.
When can this account be closed
Keep in mind a special thing that NSC cannot be closed before 5 years, provided some special circumstances do not arise. For example, on the death of a single account, or in a joint account, any or all account holders die, an account has been pledged by a gazetted officer or there is an order of the court, only then this account can be closed.
In this case the account is transferred
The account opened under the Post Office National Savings Certificate Scheme can only be transferred to the nominee/legal heirs on the death of the account holder, the joint holder (s) on the death of the account holder, on the order of the court or the account only after mortgaging the account with the specified authority.
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